Shiba Inu enthusiasts witnessed a remarkable milestone as the token leaped over a significant barrier, crossing the $0.000013 mark. In response to this bullish momentum, esteemed market analyst SHIB KNIGHT has unveiled new targets and support levels, shaping the trajectory for SHIB’s future movements.
The recent surge propelled Shiba Inu to a 24-hour high of $0.00001462, marking a monumental achievement by shedding one zero from its price. This surge, fueled by weeks of anticipation, signifies a notable uptrend, with SHIB reaching its highest point in over 52 weeks.
In light of these developments, SHIB KNIGHT’s analysis presents a bullish outlook, with targets extending beyond the current highs. The analyst projects SHIB to potentially reach $0.00001466 initially, surpassing the 52-week high. Further optimism is reflected in projections of SHIB soaring to $0.00001545, indicating a substantial 9.886% increase from current levels. Moreover, SHIB KNIGHT suggests the possibility of an even more impressive rally, with targets set as high as $0.00001668.
However, amidst these bullish forecasts, SHIB KNIGHT emphasizes caution, acknowledging the potential for market corrections. To counterbalance the optimism, the analyst outlines support levels crucial for sustaining SHIB’s upward trajectory. These support zones start at $0.00001343, followed by $0.00001306 in case of continued sell-offs, with a formidable support level at $0.00001258, potentially signaling a trend reversal.
Furthermore, over the past 24 hours, Shibburn data reveals a significant burning of 3,759,043 SHIB tokens alongside a modest tally of 4 transactions. This indicates a notable level of token activity within a relatively short timeframe. Furthermore, throughout February, the burning of SHIB tokens reached an impressive 643,656,418, accompanied by 134 transactions, showcasing sustained interest and engagement in Shiba Inu.
As of this writing, Shiba Inu exchanged hands at $0.00001281, down by 5% in the past 24 hours. Despite trading on an uptrend over the week, the bears have overwhelmed SHIB’s market today amid a broader bearish outlook as the leading coin (BTC) drops below the $62k level.
Shiba Inu’s upward trajectory, with projected highs reaching $0.00001668, reflects significant bullish sentiment among analysts. However, amidst optimism, caution is advised for potential market corrections, as emphasized by SHIB KNIGHT. Despite short-term fluctuations, the substantial burning of SHIB tokens underscores ongoing market activity and interest.
